TO: Participating Employers
FROM: Office of the Administrative Manager
RE: Pension Plan Mailings and Employers' Role
This is the fifth in a series of Bulletins issued to assist Employers in their monthly Pension reporting and in better understanding other aspects of the Trust's administration.
Throughout the year the Pension Trust mails various documents and requests for participant information to Employers, Local Unions, and Employees. Many of these mailings are required by law and in certain instances Employers and Unions are asked to assist the Trust in distributing these materials. We deeply appreciate your efforts in keeping employees informed of Trust matters.
Every autumn, the Trust's Summary Annual Report (SAR) must be sent to each active participant and to some retirees. Employees with a valid address on the Trust's records will receive this information at their home. For those employees without a home address or with an invalid address on file, the information is sent to the last contributing employer for distribution.
Each spring, every active participant who worked 250 hours in the prior year receives a customized Personal Benefit Statement showing contributions received for the previous year, the employee's accrued benefit to date and projected retirement benefit. Although Employer’s are not directly involved in this mailing, your employees may have questions or concerns about data on the statement. These should be directed to your Administrative Office.
Another distribution, which occurs semi-annually, is the New Hire Plan Mailing. An introductory memorandum and the Trust's general Plan documents are sent to each new Employee who has reached active status in the last six months. As with the SAR, Employer's are asked to provide addresses and distribute booklets for an Employee for whom there is not a valid address on the Trust’s records.
Employers can minimize their obligations for the above mailings by consistently forwarding all Employee address data with their monthly Pension contributions. Employers should always list an address for a newly reported Employee. If preferred, addresses for all Employees may be submitted by magnetic tape or diskette to your Administrative Office. Whenever employee information is provided it is pertinent that the Social Security Number accompany all data.
Your review of this information is appreciated. Any questions or comments should be directed to the Pension Accounting Supervisor of your Administrative Office.